According to the latest report by IMARC Group, titled “Spices and Seasonings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global spices and seasonings market size reached US$
25.9 Billion in 2022. Spices and seasonings are condiments that offer a particular aroma and unique taste to the dish and enhance the shelf life of the products. They prevent the formation of micro-bacteria, which deteriorates and spoils the quality of food. In recent years, spices and seasoningshave extensively been used by consumers worldwide with the growing preference for exotic cuisines and organic ingredients and increasingexpenditure on premium products with new flavors and ethnic tastes.
Global Spices and Seasonings Market Trends:
The global spices and seasonings market is primarily driven by the rising demand for packaged and convenience food products due to the rapid urbanization and fast-paced consumer lifestyles. The rapid growth of the fast-food industry that extensively utilizes spices and seasonings to create innovative, flavor-rich dishes is also contributing to the market growth. Furthermore, in the foodservice sector, ready-to-use spice mixes are used for enhancing the taste and flavor of dishes. Spices and seasonings are also employed in beauty products on account of their medicinal properties.For instance, turmeric consists of antioxidants that are knownto prevent Alzheimer’s, joint inflammation and cancer. Similarly, cumin seeds contain antiseptic properties that boost the immune system. On account of these factors, the market is expected to grow at a CAGR of 5.37% During 2023-2028.
- Based on the product, the market has been segmented into salt and salt substitutes, herbs (thyme, basil, oregano, parsley, and others), and spices (pepper, cardamom, cinnamon, clove, nutmeg, and others).
- The market has been categorized based on the application into meat and poultry products; snacks and convenience food; soups, sauces and dressings; bakery and confectionery; frozen products; beverages; and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Ajinomoto Co. Inc., ARIAKE JAPAN Co. Ltd., Associated British Foods plc, Baria Pepper Co. Ltd., Döhler, DS Group, EVEREST Food Products Pvt. Ltd., The Kraft Heinz Company, Kerry Group plc, McCormick & Company, Olam International, Sensient Technologies Corporation, SHS Group, Spice Hunter (Sauer Brands Inc.), Unilever plc, and Worlée-Chemie GmbH.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800